Japanese Yen: Under Pressure
Update on supports and resistances.
| Resistance3: | 98 |
| Resistance2: | 96 |
| Resistance1: | 92.4 |
| Last: | 91.22 |
| Pivot: | 92.4 |
| Support1: | 89.5 |
| Support2: | 87 |
| Support3: | 85 |
Our preference: Short positions below 92.4 with targets @ 89.5 & 87 in extension.
Alternative scenario: Above 92.4 look for further upside with 96 & 98 as targets.
Comment: the pair has struck against its resistance and should face a weakness as the RSI is turning down.
98
96
92.4
91.22 (last)
89.5
87
85
*USD/JPY Index: the ISE Exchange measures the strength and weakness of the US DOLLAR versus the JAPANESE YEN. For details go to www.ise.com
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